Samsung affiliates see Q2 profit growth

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Samsung affiliates see Q2 profit growth

Samsung SDI, the world’s leading electric-car battery maker, posted a profit-making second quarter, largely thanks to the sale of its chemical department earlier this year.

The company posted a 955.8 billion won ($848.9 million) net profit from April to June, Samsung SDI said Thursday. In the first quarter, the company reported a 717.2 billion won loss.

Its second-quarter revenue was 1.3 trillion won, a 2.1 percent increase from the first quarter’s 1.2 trillion won.

Another Samsung Group affiliate, IT unit Samsung SDS, also posted a satisfying second quarter, reporting 168.4 billion won in operating profit from April to June, a 35.2 percent quarter-on-quarter increase.

The affiliate’s revenue also rose quarter on quarter by 17.6 percent to post 2.5 trillion won.

The logistics department played a vital role in the growth, having expanded 35.3 percent compared to the previous quarter.
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